Only Newspaper Published In Torrance

Consolidated Edition of Torrance Herald & Lomita News One,

Section 8 Pages

This Issue

TWENTIETH YEAR No. 48. TORRANCB, CALIFORNIA.. .THURSDAY, NOVEMBER IB, 1984 PER COPY 6c

IHOSPITAI PATIENT MITESITO COUNCIL ABOUT NUISANCE Loud Conduct In the Street of Patrons Leaving Dances At Woman's Club Declared to Be a Menace to Health of Sick Peoplek^ST .' '' 1

A communication from a Jady who had been a patient at the Jared Sidney TorranceTilemorlal hospital, 'during the period between October 2 and October 27, regarding dis- .turbances in the streets and on adjacent property late atJ night which caused distress to patients in the hospital, 1 precipitated .a' brief but" heate< "* ' exchange yt vljsws between tw H members of the city council Tues .lay night ' Councilman W. H. atnnger, head H of the committee on police andH fire protection'. In commenting on the letter stated to the councl

-sft^i^^r̂ n̂ ^n%ii:3u%'a^S1'%Su'"'c(mi6 to him and to the police depart

ment, and that 'the police- wereco-operating In an effort to abate the trouble and hod ' succeeded toa certain extent In doing so.

Dangerous to SickSpecific complaints related to

the "conduct of youthful patrons odances held at 'the Woman's club-

house, located directly across thestreet from the hospital. For atime, It has been stated that theevenings ' and late" hours had beenmade obnoxious to patients by thepractice of young people of leav­ing the dance flodr and disportingthemselves on the lawn at thehospital, and. even going so farUH to come up under the windowsof the building where their Iputtalking and boisterous conductB-.ade conditions very disagreeableand even dangerous to the condi­tion ,of sick und Injured personsWithin. - -; .' Rmpty (Iquor bottles strewn V on*hu-J*4»b ..mere further mementoesof these unauthorized, visits.

The matter -was taken up withthe officers of the Woman's Cluband arrangements were made toh,avo police on duty at tho donees,HO that this nuisance was abated.However, there is utlll cause forcomplaint In 'the loud noises, yell-Ing and loud laughter of patronsleaving tho dance, and, tlie commo­tion of starting numerous cawpiirl;cid along the street In frontof tlie, clubhouse. .

Kltuman ObjectsAccording * tp' the police com­

missioner;.- tlw officers have noauthority t6 make arrests for suchbccurrencea. and- are powerless . to

. change tho conditions.Councilman W. T. Klusman- took

exceptions to 'this, explanation andmaintained that auuh arrests forloud talking and yelling, and theunnecessary racing of -motors.driving- with cut-outa open, couldbe made and the offenders dis­ciplined.

The council voted to refer theletter of the .complaining patientto the Woman'st Club for theirinformation, In the hope that somesolution to the problem might befound. The condition Is one ofconsiderable annoyance to hospitalauthorities and is dangerous tothe health und lives of patients who uru being treated at thehospital.

No Parking It may ne that In order to do

away with the nuisance, tho council will order that all of En-gracla avenue between Arlington and Manuel, tho block In which the hospital and the clubhouse are located, be made a no-parkingicono after* 7 o'clock In the eve­ning. This action, would compelpatrons ot the entertainments at

t the clubhouse to leave their nm-[ chinos on some other block 'where

the noise of their departure after midnight would not .constitute aI menace to . people who are 111 andJL in need of unbroken nightly rest.! Police action against those who F disturbed the peace by their loud ' conduct oh their way to or fromI their cars would soon put an end to this phase of the situation. In Justice to the Woman's Club, It must be said that the complaintsI are not made regarding any of1 their own entertainments, but that1 other organisations which rent the building from tho club for dunce purposes are responsible. The Woman's Club has co-operated with the authorities in trying to overcome the situation, and has succeeded to a certain extent

1 Narbonne Boy Hag1 Compton ScholarshipH I Among the students offered scholarships this year by Comp- ton Junior College, Dwlglit Ku-1 bank, u former student of Nar- bonne, ru£vK8<r*Mi award. Graduating last Uirm from Na,r- _J»ouo high school, \Eutnuxk was ""offered a scholarship bttComptou Juysce for I|U outstundRlv^afife.|L Uomlo ability.A 11« has accepted tb« award andiff Is Mlttmdlug tb« J»ys«u, UU twin.

Del Amp Gives 'Torrance Trees

, , loXineJStreeis -.i.*;:.- •:.-;.- ̂i .... - ' ..' -.-. .

Owner *of Large Estate InWest Torrance Makes '

Valuable Donation. . *

Thanks to the generosity of Dr.G. Del Amo, owner ' of Severnhundred acres of land in the westportion 'of Torrance, a street beau-tiflcatlbn project In that sectionwill start within ten days, ac­cording .to an announcement^ madeby City Rngineer Frank Leonarcat the council meeting Tuesdaynight. . . ' '> '

Dr. Dei Amo, owner of a largenursery located on Trucl* boule­vard and Del Amo streets, .inDomlnguez township, will donate;enoujfh- trees .to lino three high­ways In the- west end of the city,Torranco 'and Scpulveda boule­vards from" the City limits toModrona street and possibly toMaple, and Hawthorno boulevarcthroughout its length lii the DelAmo, property.* The trees are to be furnishedto the city without cost exceptfor the labor of digging, boxingand transplanting them to thedesignated locations. Maintenance cost, after . planting -will .be borneby the city. '

In addition to the 'street . im­provement, Dr. Del Amo plans 'to

set out trees on his property Inaccordance with a plan he is nowhavliyj drawn up by tha landscapeartist, to prbvldo a screen for theoil derricks which are so promi­nent. Hundreds of trees will 'boset out, which will make a beau­tiful park of the several hundredacres of land now Vacant exceptfor the derricks and, a few shat­tered trees. ' '.

'Dr. Del Amo has for years .beendeeply Interested In this form otImprovement and has -furnishedmany Institutions with the neces­sary trees and 'shrubs tor land­scape work. The trees and .shrubsthat beautify the campus of thoUniversity of California at West-wood came from his- nursery as agift from the doctor. The first:arob tree to grow In the UnitedStates was produced from a , seedwrought many years ago by. Dr.Del Amo from Spain, the nativeand of this beautiful ornamental

tree.

Football SquadEntertained AtKiwanis Monday*Members of -the Tartar football

squad enjoyed a fine dinner undove feast at the expense of theKlwanls Club Monday night, whichtook on the aspects of a .good oldfamily party. There wore no out­side speakers, but Chairman BobLewellen Introduced Coach Bern­ard J. Donahue who has built upho Tartar team to championship

caliber this year. Donahuo calledon , his shock troops for briefspeeches and each lad respondedwith a few words giving his slanton football and the past season'ssuccesses.

That the team Is a unit behindDonahue was made evident by thecharacter of the remarks whichmade It plain that thu boys have>e«n fighting, not only for tlu?lonor of the old school, but forheir coach who has worked hard

and long with them and made theearn what It Is today, tops of the

Marine League.Jimmy Qrubbs, absent because

of a broken lag, WUH representedby his dad. E. H. Orubbs, whowas at least partly repaid for Illsboy's Injury by tho storm of ap­plause that greeted bin name andanted for fully five minutes.

Coach Donahue and tha teamvere entertained by the Notary

Club last Thursday noon, when anasnlatanf>£o*ch subbsd for CoachCom Lleyol Loyola, and gave anfewslng.A<alk on some of theUUM>.JltuIitlon» In past football

names.

Discrimination Against Local Plants Charge!

Council to Investigate Allegei Unfair Treatment of Colum­

bia By Sewer Officials

A. K. Warren, chief engineer o the Metropolitan Sewer District and Bert W. Ijinz. plant superln tcndent of tho Columbia Steel, wil bo Invited to attend a' meeting .with the city council at an early date to talk over some phases of the present sewer situation. In which it Is alleged that an appar ent discrimination exists favorln] industrials of other than the Tor ranc* district.'

For several years the Columbia Steel has 'been put to expense t build, at the cost of $22.000, an maintain a 'treatment plant by

- waste*1" from thlir- plant- - TTTXS- tpeei reduced to one-half of one pe cent. In spite, of this the Colum bla has been refused' permission to discharge the waste Into the Metropolitan sewer nuilns, an. has been forced to run It out Int a lake on their property, which a times overflows .and. runs .Off Intc the Nigger Slough, where it be comes ' stagnant and produces' a condition faVorable to breeding mosquitoes. Additional expense tc fight the .mosquito .nuisance fall on the Columbia, and the sltua tton is growing to be a serloui menace.

Recently the city of'Los Aqgales provided sewer service for tbi Hughes-Mltchell plant, a hew con corn how In process of building on Normaridle avenue In the Tor ranco district. .Waste from tfy site at present while construction Is going on Is not harmful, bu .the question before the city coun ell is whether the company wll still be perlnlttcd to discharge un diluted .waste into the "sewers when operations start at the plan after January 1, or whether they will be subject to the same re- itrlctlons as Industries In the Tor

ranee field.North Torranc* S«w«r

At a meeting of the Metropoli­ tan Sewer District held' Tuesday afternoon, three new projects for future; development were proposed one of ' which ' will provide North Torrance with ,. a, needed system at a cost of about $160,000. Work on this project, however, will prob­ ably1 not be. started "for sorije time Another section between Inglewood

nd- Hawthorne was listed at a cost of about $125,000, ' and third;- coating $24,000, Is planned

the Inglewood district. Work on the latter will probably be started soo)u the starting date on the other 'being Indefinite.

Plans .to ask' an outright grant of $800,000 from the PWA fund: of the federal government for the lutfall sewer, the remainder of he cost to be paid but of receipts 'rom the sale. of sewer district bonds now on ; hand, which in

if. tho more favorable bond market, it is believed can bo sold, were discussed at the sewer board meeting Tuesday and action may be taken. The ' petition of the district tor a larger sum than irlglnolly asked, and substituting he amount of $800,000, will be :bandoned.

Italian Held By Federals On Conspiracy

Salvatore Musso Taken In Charge Here Friday; Ar­

raignment Nov. 19

Sulvatore Musso. 404 Hawthorne mlevard, was arrested by Tor- mco police on November » and

urned over to Deputy U. H. Mar- ihal Hayden, on a federal warrant :harging conspiracy, and is now n custody in Los Angeles. He will le arraigned on tiie charge next Monday, November 19.

Uussn Is alleged to have leased property he owns In Torrance to a group of Illegal liquor manu- acturers, one of wliom, John

Bcagllone, Is now out on bond on a, charge of defrauding tho gov- rnmejjt. Hcagllone, according to leputy Hayden, has baen engaged n Illegal liquor transactions over

long period, has been Im,'trouble with the department on previous Kcaslons, and is now under bond n three other complaints In addl- lon to tlie preuunt case.

Thu names of the other parties o the case In which Musso Is in- olved were not learned.

NEW WARDENL. Phllllpa of tlie Palos Vtrdcs

Estates has been appointed a eputy fish- and game warden to 111 one of six vacancies caused y death or resignation. "

ProclamationAs mayor of Torrance I hereby designate the

period from ^ November 11 to November 29 as a time given over to a review- of the work of the

American Red Cross and .its vatye to the community, and I also set it

.aside as>a time for the annual en- ^rollment of members.

This office is in touch with the needs pf those .who have been .affected- by_; the depression of the

last few years, and we have seen the ready response of the Red Cross .to meet these needs.

The organization's program is so flexible that it meets emergencies, and disasters of all kinds. It also has a permanent structure that is being built up year by yeajr, to study means, through which epidemics and disasters may be prevented.

.:ThiE~corrn]Bain^. needs^e-^ tti&;R"ed i'cfo!isr'aV''-ii^"n^^Is at our command to' meet whatever emergencies

Th coming year may bring. 'I, therefore, call'up'em former members of the

Red Cross to renew their memberships during the Roll Call this year andl urge those who have never hitherto been members to enroll their names with those who are fighting -disease, disaster and-need under-the .banner of the American Red Cross.

SCOTT R. LUDLOW, - Mayor.

Relics of Bygone Age Revealed In Excavations By; Road Workers

Excavations "by a c#ew 'pf SERA road- workejrb aldng Catallna avenue In the Hdlljwood BAvieja .^e^.tion of Tot- fance Ji§ye revealed one of the "most interesting, afcha.eolb'fe- ical finds of recent years, and gives evidence of the exist­ ence' there several . hundred yjars ago of an Indian tribewho used the spot as a permanent' f abiding place perhups ' f6r many years. . (

.The general site of the vlllajga extends from the Hollywood K1*I» ra bjubhpuso south to the Polos' Verdes Estates. Hcieuflstii since 18SO have' boon Interested' In- thisIpckllty, 'due to other p'oritilsslon for .

find.d 'eip'lora :

tlons has been' lacking and the full extent of the dlacoyery. Is as ypt unknown. , ' . IJo*s and arrows, cooking pots an^d other, household utensils fnad< of , soapstone probably Imported from Catallna Island, flcup'laces crudely made of stdhea. add many Other Interesting relics Have been found. The fossilized bones of whale, probably cast ashore that point, were among the dis­ coveries.

Evidences of an extensive bury­ ing ground are olsp revealed.

DEAL MAY BE

Fine Parade 1$ . Staged Sunday

By Legion PostTorranca Turns Out to Cele­

brate 16th Anniversary of Armistice

The Bert B. C'rossland Post. American Legion, put on a grand (how for the ^spectators Sunday ifternoon, when they arranged a line parade and patriotic program n observance of the 16th annlver- iry of Armistice Day. The parade covered the down­

town streets and marched along Arlington to the ball park where :be exercises were held.

Lead by the mayor, Scott R, Ludlow, and members of the city council, 'the colorful pageant spread out over several blocks. The Cleveland Boys Band. Man 'edro, Gardena and Torrunee post

drum corns furnished music. The Compton Auxiliary drill

Bam In scarlet uniforms made a :|ue appearance. This unit and he drill team of the Qurdena

Auxiliary were the only women's irganlzatlons In the line of march- The Loyal Order of Moose unit

was headed by a flout, u big moose surrounded by a group of iblldrun, typifying the order's care or juveniles at Mooseheart.

A comedy bond, members of he Iximitu Vuturans of Foreign

Wars, brought up the rear of the procession.

The baseball game between theVets and thu , Luglonnalrus endedn a' tlu score, IS-II.Past Commander Clifford Hlgks' the San Pedro post delivered

ha addroM of the day, and theCleveland Boy mualu.

he day, and the Rantf' furnished

Purchase of Water CompanyWaits On Favorable Reply

of State Bank Official

Should a favorable decision on the status of the bonds to be Issued and the legality of the proceedings In the pur­ chase of the Torrance Water,Light and Power Company be re celved promptly from the state superintendent of banks tp whom the transcript in the case has been submitted, the city will be prepared to exercise its option for purchase on November 21. the original date for consummation of the sale.

Decision to that . effect was reached at tho meeting of the city council he|d Tuesday night,' In view of the fact that a purchaser for $200,000 In bonds offered by the city has been secured and the bonds are now In the bunds ot the printer.

Possibly within ten days the city of Torrance will have achieved the goal to which It has been working for several years..

Should action be delayed beyond that point, no move to make the deal will be made until the next calendar-month 'date, December 84,

to the office arrangements of the water company In handling

i« local business. A now application to the federal ivcrnmont for fgndo for the Im­

provement of thu system, amount­ ing to $170,000 has been prepared and forwarded. The proceeds of this award If It Is granted out of PWA funds, will ue spent In mak­ ing certain changes In the pipe

system, drilling wells, build- Ing reservoir and treatment plant

making other Improvements necessary ,to a complete and satis­ factory plant.

chase of tho reservoir site,' cost of $13,500, will be made of the remainder of tho

$300,POO received for the sale of bonds.- after tlie purchase price

$137.000 has btx-'i) paid tu the :er company?

CASE POSTPONEDThe case agulnat Mrs. Arlona

Ueldrelcli. sat for 10 o'clockWednesday morning in the city

l postponed ui November !0 at

Hughes-Mitchell Plant Takes On

Industrial LookConstruction of New Three-

Story Building to Be' • Started.

Two new hullding.s for the Hughes-Mltchell Company'H $1.. 900,000 Torrance ---plant were ex­ pected to-be started . this- weel< representing a- further Investmcn of $32,000. according to latest Lo Angeles city building permits:

One of the buildings will.be i three-story structure, which will the five-story structure recentl; started -rind the -smokestack perml issued .earlier In the week will glvi the plant somewhat of an Indus trial skyline.

i.slory -jjteel-_l>uHdl

_ "a one-story -HtrucVu to cost $17,000.

Both buildings will be erected by the Consolidated Steel Cor­ poration of IMB Angeles, according to the building permits.

HOUSING jCTJSJffllllED;Title II., Covering; Building of New Homes and Refinancing

Home Mortgages, Is Announced .By Marlow •", ..'.:. , '-.

Aged Man Killed By Hit and Run Motorist Friday

Accident Is Seen by TorranceMan Walking to

Cardena

David Shonerd, age 82, of 10927 Kenwood street, Lennox. was struck and Instantly kj||ed Friday night nfyout .6:45 o!c|QCk.;by. an unknown motorist, thought to be a Mexican, who was drlvlug*4f on. Western,.uvcnue ,neur the brick yard. The body was taken ' to the Whlttlngton Mortuary, 'Gar- dena, where It was later identified by Roscoe Shonerd. son ot tho dead man, who said that father had left home early In the afternoon to go for u walk hnd not returned,

. Tho fatal accident was witnessed by George Denning; 2749 286th street.' Torrance, who told deputy sh'erlffs of Sub-station No. 3, that he was walking to Gardena to call on a friend when he saw the car. a light sedan, approaching at

fast ' speed. According to Den­ ning, the car was swerving trom

side of the roud to the other, and narrowly missed Denning to werve across the street .where It truck Shonerd who was sitting

beside the road.According' to the officers, Shon­

erd Had been struck a terrific blow as practically .every bone in

body had boon broken. His body was dragged about 90 feet

long the highway. The motorist did not stop, but

sped on In the direction pf this lity. Officers are checking all

garages and repair shops In Tor­ rance, Lomita and Redondo Beach,

an effort to ascertain tho Identity of the driver. Several parts of the cur, broken off when It struck Shonerd, are in posses­ sion of tho officers.

Denning tvas unable to get tho Icenso number of *ho car because if darkness und fog.

Bus Loaded With Children Struck By Car; 18 Hurt

Abraham -Belcher. 2606 East 56th itreet, Huntington Park, 16 Mexi­ can children and the mother of wo, were Injured Sunday when

u Sunday school bus was struck nd overturned at the Inter­

section of I' r a I r I e avenue and ledondo Bench boulevard. The

ty WUH on its way to attend lUUday school ut tlie Four Square Gospel church ut Kedondo Beach. Belcher was driving. Tint bun WUL itruck by a car driven by James

Martin Harness. 17-13 Writ 57th street, Los Angules. All but three of tile Injured wera taken to the Her in oaa-Hednndo hospital, the jthers, more seriously hurt, to the General hospital where It In said .hey will recover. Harness wu» 'atally Injured und died l<efore reaching u.hospital.

FUNERAL HELD TODAYFOR MRS. SUNDAY

inurul services were held In Hun I'edro today for Mra. (irttce llunday. who pussod uwuy In thut city luut Sunday, she hus been

Invalid for sevord years. In-ermont was made ut Roosevelt

Memorial Park. Mrs. Dunday,uother of Mrs. W. H. Pastedo. oflan f'eiiro. had resided In l.omitanlll about a year «go.

Federal Housing Administration through-P. W. Marlow, district director for Southern California, today made public a general outline of. the plan of operations under Title II: of the National Housing Act, which deals.with.residential mortgage financing.. This portion of the Act provides the

Around the Council

-^legal bnsls for the long-range pi gram of the Federal Housing Ad­ ministration as distinguished from the modernization and improve­ ment program which . has 'been_

;»m>~»?%v -".'['"'" *'oV'tho Walteria Parent

iVlci-8 Association tor $25' und of the Torranco fire . department for $160 to defray eKpenseii of Chrlstrnas celebrations for chil­ dren In the two localities, was 'grunted. "

T. S. Lorelady, proprietor of the Torrance Feed and -PoultrJ- Com­ pany, asked permission to place on the sidewalk in front orchis store* a p.en for display of turkeys (luring the holiday season. Granted

A contract, between the cltj council und the Boy Scouts organ­ ization of Torrance, similar to that drawn up between th? city and tho Chamber of .Commerce., au­ thorizing tlie Scouts to expend city funds up to the amount ol 5-126 during tlie fiscal year, was ordered -to be executed by the mayor. Councilman Klusman ob­ jected to the amount authorized on .'the grounds of economy In cits finance, tho and further plea thai -thit- rciyi^ iSwtM, jftlttn'i rii ifir.li -0r.- ganlzutlon. should be given a cor-

.Id. On final roll-all the

adopt tin

Torrance Company,

being rfouncl

was unanimous act as road.

mment, received- from the Water. Light and Power extending the option to

' - luary 2M, 1935, >per form, was

ordered filed.

The council voted to .send a letter of appreciation . to Principal Arthur G. Waldellch, of the Tor­ rance high school, commending the Tartar football team for its splendid 1 achievement this year, and also a letter to the Cleveland Boys -Band df San Pedro, thank- Ing them, for their cooperation in the Armistice- Day^celebration hero laiit Sunday. .

Councilman ,W. H. Stahger re­ ported that negotiations for ffro Hydrants for use In tho McDonald tract were still under -way. and thut he had succeeded In getting a bid for $101 from another con­ cern, which Is a out of $60 under the first bid received. Ho hopes to be able to secure a still better price before finally placing the

der.

Building Permits In Unincorporated

Territory HighBuilding permits In Lomita.

Harbor City and qther unincor­ porated territory of ' the county hit an exceptionally high figure

month, us compared with the previous month, and with October of u year ago.

Permits were Issued during last nonth for buildings that carried

u total valuation of $786,743. Tho permits, 773 In number, Included the reconstruction of several school buildings In unincorporated

I«ast month's valuation wax more than $200,000 above the valu­ ation of $567,334 on permits lusued In October, 1US8, according to county building bureau figures.

October figures also showed a lubstuntlal Increase over those of

September. 19M, when the valua­ tion totaled $627,965.

Democratic Club Moves to El Prado

Tli ClubTorrance Democratic announces .that UH liea<li|narters

been moved from Hartorl to 1131 El I'rmlo, where meetings will continue to bo held on each Tues­ day owning. Huudiiuartum arv

kt-pt open dully, und Presi­ dent Kyun announces thut the muuttng held last Tuesday eve­ ning was one of thd" most en- thuslustlc and best attended the

|ul> hus had. Over 50 pcraon» vvre present to hear a*'Inspiring nesuuge delivered by Judffc Pat-

tersun, executive secretary for the JStli Awombly District, who will

loV »n»t)icr talk to tl»s next Tueoduy svcnlng.

c^iilnuc nnlll1985.

Low Interest Rate- This lit the Hrst time In tho history of finance, that a uniform; bnslff Internal rate; has been ap-. plied t° private capital throughout the United States. Heretofore/ Interest rates on the West coast have always been .113* higher than In the middle west and east.. Therp probably was never any good reason for the higher Interest rut« Outgrowth of custom when we', on the West coast except, as the were a long distance from th« money market. However., with

-one-day airplane service to tho cast coast and Instant radio, telo- grnph and telephone connections, there Is now no reason why thd Interest rnte on residential flnanc- Ine: should not |>e uniform. This Interest rate has been fixed at 5% on new construction loans, and at 6149! on mortgages which con-, stituto refunding of present In- delitcdness. ' ' -

Refin«nc« Mortgages. An opportunity to owners . of

dwclllnKs to: refinance their mort- gagcs on morn favorable tcrmn, anil to prospective owners to oh- taln financing on terms .conipnr 7) ttl^lfi. to the payment- of .'rent ; hV presented. 'Mfltiial ''lnsurane« ,of mortgages on existing or new dwelHngs in amounts up to 80% of the appraised yalue and for as much aa $16,000, with payments extending over a period of aff years, with $ he privilege of K"Xt. ment by regular monthly Install­ ments, Is provided.

-Loans on such Insured miirt-. gages are to. bo made by lending Institutions who may qualify (i* eligible mortgagees; ' Tills will in- ; elude the larger banks, building and loan associations, Insurance companies; etc., which may be ap^' proved by the: Federal Housing-Administration as'eligible to mdl(9 an Insured mortgage. Regular periodic payments on principal will be required at a rate sut- flclent to pay off* the mortgage ut Its maturity.

Only mortgages on dwellings designed for from one to four > families will be eligible for In­ surance. It is provided In the Act that no mortgage will be accepted for Insurance 1mUi.su the administrator finds that the pro­ ject with respect to .which -th* mortgage Is executed Is' econom­ ically sound. Consequently the dwellings on which mortgages arc Insured must be well located In urban communities.' '

National Banks ReadyIt is understood thut financial

Institutions governed by state laW will not be able to muku tho maximum loan of 8u% appraisal, until the state legislature meets In January and passes tho neceu- snry permissive legislation. How-

nutlonal banks may make the maximum loan at once, under authority provided In the amend­ ments t? the national luws pushed with the National Housing Act.

Must H«v». IrjcomtTo qualify uniier an Insured

mortgage, the borrower must have regular Income reasonably

.enured of continuance, sufficient (o meet all periodic payments an . they fall due, out of bin normal net Income. Generally, the .pay­ ments for Interest, Insurance premium and amortization com­ bined, should not amount to u nuiu lUbstanttally larger than the bor­

rower could afford to pay for rent if he did not own the prop­ erty. It must be remembered that he will have to bear tho cout of maintenance und Insurance and tuxes on his property items which as a renter he would not be required tu iwy.

The service charge shown as collectible by the financial Insti­ tution Is bused on diminishing buluncc«. The premium for Insur- anco payable to tile Federal Hous­ ing Administration constjtute» nut alone Insurance premium but ul»o contingent amortisation. Mort­ gages will be classified Into groups by the Washington office of the Federal Housing Administration. Tlie premium un any particular mortgage will be credited to til* group Insurance (und «nd, depend­ ing on the falalltfes In thut group,

(Continued, on Pug« Kigbt)